Morning Update – 19/11/15 – 09:13:23

Morning all..Stocks took off after the FOMC minutes with the S&P closing up 1.62% and Asia has taken on the rally with the Nikkei up 1.07%.. The Dollar tried to rally but we saw a squeeze down overnight with the EUR above 1.07.. Japan held off any more additions to QE as expected and USDJPY remains in a tight range.. The squeeze lower in the Dollar took the commoddity currenccies higher but copper and iron ore fell hard again overnight. There is a feeling the market was speculatively very long dollars into the minutes so many feel this squeeze in the dollar may not last and as London walks in we see sellers of EUR again. FOMC Minutes: most anticipated conditions could warrant Dec hike; Some saw unlikely lift-off conditions met by Dec; “next meeting” language intended to leave policy options open for Dec; a couple were concerned new wording could send too strong of a signal; Several see d/side risks remaining; Most saw d/side risks from global events as diminished; Some thought prudent for additional policy tools if Fed rate stuck close to zero; A couple thought Oct. meeting sent too strong signal of a Dec hike. All rather mixed to be honest but traders feel the December meeting is “live” for a hike if data comes in ok.. This morning we get Swiss unemployment data, EU current account, and UK Retail Sales which may dominate. Good luck